Okay, so I got myself a copy of AKOTSK. I knew it was going to be shorter than the TV show since it's only a hundred or so pages (I love almost all of the additions made to the show, especially to the women of the series), so I blew through The Hedge Knight in one sitting. AND! Valarr is a little lame? (/t)
I'm slightly disappointed that the details of the first joust didn't make it to screen (Lyonel being a dick to high houses by knocking their crests off into the crowd, the battle of the humfreys, the champion system, etc.), but there are some interesting points of characterization for Valarr, which only seem implied in the show.
That is, Valarr doesn't really take on challenges. Dunk (who is much more perceptive and introspective in the book, or maybe these traits are more noticeable when reading his internal dialogue) notices that "the truly dangerous men are riding past his shield as if they do not see it." Valarr, in fact, spends most of the first day's events cuntily sipping out of a goblet (see fig. A)
And, when in need of a 7th knight to aid Dunk in the trial, Baelor joins the fight in the show just as in the book, donning his son's armor. In the book, however, there is a moment where Dunk and even lord Ashford mistake him for Valarr, "The Young Prince. Gods be good, is it truly him?" Obviously, the moment is built for the reveal of Baelor. What a shock that the next in line to the Iron Throne would join the cause of a hedge knight. But, I couldn't help but wonder, why wasn't it Valarr?
In the lists, Valarr managed to avoid any true fight. One could say that, as a Targaryen, he was in attendance more for PR than honor. But Aerion Targaryen struck Hardyng's shield and challenged the knight who had humbled 14 that day before(note from the book: Dunk considered Hardyng to have the day's honor; he was a fucking bulldog, and we don't appreciate that enough).
So I am left with more questions than I had before reading this novella. With the fact in mind that we won't be seeing much of Valarr in the subsequent stories, It's likely they will not be answered in canon. However, they are interesting to think about.
Why does Valarr not fight? Is he bad at it? That's certainly what Dunk considered when mulling over which of the champions he'd have the best chance against. Or, is he a coward? A pacifist? Does he consider himself above tourneys? Or rather, why do the most dangerous knights avoid calling upon him? What could have been running through his head when his father woke him up early one morning to borrow his armor? Why was it not the young prince underneath the visor, come the trial? GRRM you have 24 hours (/j).